Deep Dive: Divergence of MPC votes proves BoE's avoidance of groupthink

Responsible for making decisions about the Bank Rate, the nine-member MPC sets and announces policy eight times a year –roughly once every six weeks– alongside regular meetings to consult on how the economy is progressing. The last time the MPC reached a unanimous decision on rates was September 2021, opting to hold at 0.1%. Since the current hiking cycle began, no decision has been made without at least one dissenting vote. At the latest meeting, seven voted to hold rates at 5.25% –governor Andrew Bailey, Sarah Breeden, Ben Broadbent, Megan Greene, Jonathan Haskel, Catherine Mann and...